02-27-2011, 02:14 AM
The mortgage tax break is a key element in the political goal of post WWII America. Single Family home ownership for everyone. A chicken in every pot, and a chevy in every garage. And the extreme pressure to make mortgages available to *everyone* is, of course, one of the proximate causes of the bust that we're in.
I have a feeling that pushing that agenda will only serve to make the real estate collapse continue.
However....
President Obama's reference to the tax code in recent speeches give me some hope. The code badly needs to be nuked and paved.... it's such an awful amalgamation of special interests and social engineering that a lot of bad decisions are driven based on 'tax rules'. Rather than targeting one sacred deduction after another, it would be more palatable to the electorate to clean off ALL the crap from the tax code and reengineer it to be truly 'fair'.
Yes... I AM one of those 'flat tax' believers. :oldfogey:
I have a feeling that pushing that agenda will only serve to make the real estate collapse continue.
However....
President Obama's reference to the tax code in recent speeches give me some hope. The code badly needs to be nuked and paved.... it's such an awful amalgamation of special interests and social engineering that a lot of bad decisions are driven based on 'tax rules'. Rather than targeting one sacred deduction after another, it would be more palatable to the electorate to clean off ALL the crap from the tax code and reengineer it to be truly 'fair'.
Yes... I AM one of those 'flat tax' believers. :oldfogey: